Institutional buyers appear to be very keen on the initial offerings of Alkem Laboratories and Dr Lal Pathlabs, the two IPOs that hit the market today, based on their anchor investments.
According to data released late last night by the companies, both have seen tremendous interest in their anchor book allotments.
Alkem has raised over Rs 395 crore at the upper end of its price band at Rs 1,050 a share by receiving bids for 37.66 lakh shares. Its total offer size is about Rs 1,344 crore.
Dr Lal Pathlabs has raised Rs 191 crore of its Rs 630-crore issue through bids for 34.8 lakh shares at the upper end of its price band of Rs 550.
Mutual funds, including Kotak, HDFC, DSP Blackrock, SBI, Axis, ICICI Prudential, IDFC, Tata, Reliance, UTI, Birla SunLife and Franklin Templeton, have bought into the anchor allotment.